Apple sets record for company value at $621BBy Peter Svensson
NEW YORK—Apple is the world’s most valuable company, ever.
On Monday, its surging stock propelled the company’s value to $621 billion, beating the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.
Apple’s stock has hit new highs recently because of optimism around what is believed to be the impending launch of the iPhone 5, and possibly a smaller, cheaper iPad.
Apple Inc. has been the world’s most valuable company since the end of last year. It’s now worth 53 percent more than No. 2 Exxon Mobil Corp.
The comparison to Microsoft does not take inflation into account. In inflation-adjusted dollars, the software giant was worth about $850 billion on Dec. 30, 1999. Microsoft is now worth $257 billion.
Recent Stories:Pope Francis calls for loyalty from Chinese Catholics 9 mins elapsed Ex-OIC mayor of Davao del Sur town killed in apparent robbery—police 14 mins elapsed Workers strike at Coke bottling plant in Laguna, defy court’s TRO 16 mins elapsed Risky behavior starts young on web—survey 36 mins elapsed PH stock index continues gain in second straight session 42 mins elapsed Neighborhood law officer caught puncturing tires 44 mins elapsed UE comes back to beat Lyceum, but coach wary of slow starts 50 mins elapsed Sandiganbayan convicts Dapitan City ex-mayor for malversation of funds 58 mins elapsed